Canada
Canada
Real Gross Domestic Product
Gross Domestic Product, chained 2012 dollars, monthly change, %, SA, updates monthly
Real Gross Domestic Product measures the change in the inflation-adjusted value of all goods and services produced in the economy. It comprises private consumption and investment, inventory buildup, government spending and net exports. Markets watch this indicator to gauge the strength and composition of growth.
Canada
Net Change in Employment
Employment, monthly change, SA, updates monthly
The Net Change in Employment measures the monthly change in the number of people employed. In Canada, the estimate includes both full-time and part-time employment and includes the number of persons who work for pay or profit, or perform unpaid family work. Markets monitor this number to gauge the strength of consumer spending, which impacts economic growth and monetary policy expectations.
Canada
Unemployment Rate
Unemployment Rate, all persons, %, SA, updates monthly
The Unemployment Rate measures the percentage of the labor force currently not working but actively seeking employment. Markets monitor the unemployment rate to assess the cyclical health of the economy and the likelihood that wage demands may increase inflationary pressures.
Canada
Consumer Price Index
Consumer Price Indices, annual change, %, updates monthly
The Consumer Price Index is a measure of the change over time in the average prices paid by consumers for a market basket of consumer goods and services. As the most widely used measure of inflation, changes in the index are closely followed by policymakers, financial markets, businesses, and consumers. Statistics Canada reports an ‘All-Items’ number that includes all categories in the calculation basket, three preferred measures of core inflation preferred by the Bank of Canada: 'Trim', which excludes components whose rates of change in a given month are located in the tails of the distribution of price changes, 'Median', which corresponds to the price change located at the 50th percentile of the distribution of price changes in a given month, and 'Common', which tracks common price changes across categories. The Trim and Median measures are seasonally adjusted, All-Items and Common are not.
Canada
Policy Rate
Bank of Canada Target for the Overnight Rate, %
The Policy Interest Rate is an overnight interest rate that the Bank of Canada targets in order to influence monetary variables in the economy, including consumer prices, exchange rates, and credit growth. The Bank of Canada adjusts the target for the overnight rate on eight fixed dates each year.
Canada
Money Supply Growth
M2 Money Supply, annual change, %, SA, updates monthly
M2 Money Supply is a measure of currency that includes cash, checking deposits, and non-cash assets that can easily be converted into cash. Markets don’t typically respond directly to changes in M2, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
Canada
Bank of Canada Assets
Bank of Canada Total Assets, billions CAD, updates monthly
The Bank of Canada’s Balance Sheet is a financial statement that shows what the central bank owes and owns. The Bank’s assets consist primarily of Government of Canada and provincial bonds. Its liabilities are mostly currency in circulation, commercial bank reserves, and collateralized reverse repurchase agreements. The balance sheet is used to influence interest rates – when officials want to stimulate the economy, it expands, and when they wish to tighten financial conditions, it shrinks.
Canada
Debt Ratios
Credit to General Government, Non-Financial Corporate, and Household Sectors, % of gross domestic product at market value, updates quarterly
Aggregate Debt Ratios measure the total borrowing of the general government, non-financial corporate, and household sectors, expressed as a share of gross domestic product. Total debt is followed by investors as a gauge of the vulnerability of an economy to financial shocks. An overly fast pace of debt growth is also frequently associated with a buildup of unproductive investment and excessively high asset valuations.
Canada
Trade Balance
Trade Balance, balance of payments basis, billions CAD, SA, updates monthly
The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported – generating a trade surplus – and a negative number indicates a deficit. Trade imbalances may reflect fleeting differences in growth rates or more permanent factors in the composition of growth or the endowment and price of natural resources.
Canada
International Investment Position
Credit to General Government, Non-Financial Corporate, and Household Sectors, % of gross domestic product at market value, updates annually
The Net International Investment Position is the difference between the external financial assets and liabilities of a nation. A nation with a positive position is a creditor nation and is generally considered a safe haven in financial markets. A nation with a negative position is a debtor nation, with deeper balance of payments vulnerabilities.
Latest Analysis
Latest Analysis
Data flow picks up this week
14 December, 2025
• Equity wobbles. Fresh valuation concerns weighed on US equities on Friday. AUD & NZD lost a bit of ground, but still rose over the past week.• Event Radar. NZ GDP is out (Thurs). US jobs data, retail...
Dollar holds post-Fed losses
11 December, 2025
The dollar is back on the defensive this morning as markets absorb yesterday’s unexpectedly-neutral Federal Reserve rate cut as well as a stumble in the overheated US tech complex ahead of next week’s...
Hold the line
10 December, 2025
• US Fed. Another US rate cut announced. But guidance wasn’t as ‘hawkish’ as feared. Positive for sentiment. USD weaker. AUD close to year-to-date peak.• AU jobs. Australian employment...
Federal Reserve cuts rates, telegraphs January pause
10 December, 2025
The Federal Reserve cut rates for a third consecutive time this afternoon, and opened the door to a January pause amid growing uncertainty on the economy’s underlying trajectory.
In the widely-expected...
Bank of Canada holds, maintains neutral outlook
10 December, 2025
As had been almost universally expected, the Bank of Canada left its policy settings on hold this morning, and again clearly signalled that policy rates are sitting at near-neutral levels, minimising the...
Currencies flatline into central bank decisions
10 December, 2025
Happy Fed Day to those who celebrate. Global risk assets are drifting lower, yields are a touch firmer, and the dollar is trading in the middle of its recent trading range as investors await what is widely...
Hawks in the nest
09 December, 2025
• Consolidation. US equities tread water ahead of tomorrow’s US Fed decision. The USD index ticked up. AUD outperformed due to RBA rhetoric.• RBA shift. No change in rates yesterday but there were...
Traders stockpile dry powder as Fed decision looms
09 December, 2025
Currency markets are drifting into Tuesday with a wary, slightly defensive tone, caught between a thin data calendar, declining volumes, and the growing sense that policy divergences are about to reshape...
Trading ranges narrow in run-up to Fed meeting
08 December, 2025
The dollar is edging lower against a basket of its most-traded rivals as investors focus attention on this week’s Federal Reserve meeting—and on the implications for monetary policy in 2026. Benchmark...
US Fed & RBA in focus this week
07 December, 2025
• Solid run. US equities rose on Friday, as did bond yields. USD index tread water. Commodity currencies (AUD, NZD, CAD) strengthened.• Central banks. No change by RBA (Tues), however tone could be ‘hawkish’....